Recently, John Hancock released its Longevity Preparedness Index and the findings are really helpful for homeowners planning their happy, Golden Years. As a designated Senior Real Estate Specialist® with the National Association of REALTORS® and a certified Berkshire Hathaway HomeServices Senior Specialist, assisting homeowners with their Golden Years is not only my specialty but also one of the most rewarding parts of my job.
So, what can we glean from the new Longevity Preparedness Index?
According to the report, “Over the next three decades, the number of people aged 60+ is expected to double to 2.1 billion.” Concurrently, “one fifth of a person’s life, on average, is expected to be lived in poor health.”
This means there’s a gap between how long people will live and how well they can live, providing an opportunity to prepare for healthier, more balanced lives. On the home front, the report says that overall accessibility, proximity to service providers and modifications for independent living are important factors to increase overall wellness. When I work with clients to plan for their Golden Years, we always talk about the specific factors important to them and whether their current living situation suits those needs. When it does, we think well into the future. When it doesn’t, we strategize how to create an environment where they’ll feel more supported and comfortable, whether that means modifications to their current house or moving somewhere new. Relocating is often called “rightsizing” because it’s about finding the right spot that fits a client’s needs, whether that be a one-story home, a condo or one of the many active Senior living communities we have knowledge of and can help direct our clients to begin their next smart move.
Aging in Place
The report surveyed respondents about home accessibility preparedness, asking them about specific features in their home. Of those surveyed, 45% said they had no stairs in their home, 44.2% said they had a home safety and security system in their home, 35.8% said they had a zero-step entry, and 34.3% responded that they have smart lighting and lighting sensors on their property. Additional home modifications might include wheelchair accessibility, low kitchen counters, stair lifts or an elevator and modifications to make bathrooms, showers and sinks more accessible and safe.
Community
It’s all about location, location, location! The report emphasizes community, and specifically these factors when promoting long-term longevity:
- Mobility: Well-maintained sidewalks, street lighting, public transportation
- Technology and Connectivity: High-speed internet availability
- Environmental and Climate Factors: High air quality, low noise levels, green space by way of parks and public areas, recreational amenities and specific plans that protect community members should any natural disasters like fire, flood or inclement weather arise.
- Healthcare Access: In general proximity to healthcare providers, facilities and services.
- Affordability: A favorable cost of living, and reasonable maintenance and taxes.
- Third Places: Spaces outside of the home where people can connect, whether that is through community-organized events, clubs, restaurants, libraries, coffee shops or volunteer opportunities.
workplace where people can connect, such as, clubs, faith-based organizations, restaurants, cafes, libraries, and volunteer opportunities.
As the report says, “When it comes to aging, many of us don’t know what we don’t know.” So, to enhance your knowledge, speak with a professional—like me—who understands the ins and outs of retirement, aging in place, finding a home to align with your lifestyle needs and more. Because “Golden Years” should be just that … joyful, happy, stress-free and filled with shining, happy memories that are as good as GOLD!
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Andrew Manning • REALTOR® • Berkshire Hathaway HomeServices California Properties • DRE: 00941825 • 818-380-2147 • andrew@andrewmanning.com